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Atmel sells network storage line to MoSys

Posted: 13 Jul 2007 ?? ?Print Version ?Bookmark and Share

Keywords:network storage line? HD DVD? intellectual property?

As part of its strategic initiatives to focus on core-product areas, Atmel Corp. has sold its network storage products group to MoSys Inc. on July 2 for an undisclosed amount, which included cash and the assumption of certain liabilities.

The products include SoC semiconductor solutions targeted for the network storage and HD DVD marketplaces. As part of the transaction, Atmel will transfer the products and related intellectual property to MoSys, and over 100 current Atmel employees located in various sites worldwide will become employees of MoSys. Since none of the sold products has been released to production, there is no revenue transferred.

In December 2006, Atmel announced a set of strategic initiatives including the company's intention to focus its resources on high-growth, high-margin proprietary product lines and re-deploy resources away from non-core product areas. Since that time the company has invested in several key product areas, and the sale of its networks product line is part of ongoing efforts to focus resources on core products and technologies.

The company in May sold its wafer fabrication facility in Irving, Texas to Maxim Integrated Products for approximately $38 million. Its U.K. fab is reportedly next to go later this year, and its Germany fab next year.

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